Recent studies in managerial accounting point out that the firms do not fully ratchet up the managers' future performance targets based on their past performance. This study offers a novel theoretical perspective on the firm's executive compensation strategy that supports such latest empirical...

We study manufacturing firms’ asymmetric inventory investment in response to sales changes. Focusing on the costs of resource adjustment and stockout which likely differ in sales-increasing and sales-decreasing periods, we predict and find that inventory investment declines less during periods...

We study manufacturing firms' asymmetric inventory investment in response to sales changes. Focusing on the costs of resource adjustment and stockout which likely differ in sales-increasing and sales-decreasing periods, we predict and find that inventory investment declines less during periods...